In the expenditures approach of national income accounting, C, I, and G include expenditures for ________.
A. domestically-produced, as well as imported, goods and services
B. exported goods and services
C. domestically-produced goods and services only
D. the private sector of the economy only
Answer: A
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Voluntary exchange
a. is usually beneficial to one party, but not the other. b. is always beneficial to both parties. c. is occasionally beneficial to both parties. d. occurs only between nations, not between individuals.
In the following question you are asked to determine, other things equal, the effects of a given change in a determinant of demand or supply for product X upon (1) the demand (D) for, or supply (S) of, X; (2) the equilibrium price (P) of X; and (3) the equilibrium quantity (Q) of X. An increase in the prices of resources used to produce X will:
A. increase D, increase P, and increase Q. B. decrease S, increase P, and decrease Q. C. decrease S, decrease P, and decrease Q. D. increase S, increase P, and increase Q.
Easy monetary policy reduces the real interest rate, which ________ the demand for dollars, ________ the supply of dollars, and ________ the equilibrium value of the dollar.
A. increases; increases; increases B. increases; decreases; increases C. decreases; increases; decreases D. decreases; decreases; decreases
As growth progresses and countries become richer, pollution
A. rises exponentially. B. tends to fall. C. rarely changes. D. levels double.